The National Income Forecasting (NIF) Model was jointly developed in the early 1970's by the Treasury and the then Commonwealth Bureau of Census and Statistics (forerunner of the Australian Bureau of Statistics). Over the subsequent years a number of versions of NIF were released following improvements to the underlying model. 1988 saw the final release of the NIF model.

The research on the present Treasury Model (TRYM) model began in 1990, partly in response to feedback on the NIF model. However, it was also motivated by a desire for a smaller, more transparent model than NIF88 with a greater focus on internal consistency. With TRYM replacing the NIF model most of the 500 NIF series became redundant. However, a smaller number of series (around 190) were retained as they were not covered within the TRYM model or were seen by users as having some additional value, at that time.

The introduction of new National Account benchmarks in the September quarter 2005 highlighted quality issues with some of the NIF series in the Modellers' Database. This resulted in a wider review of all NIF series. The review has investigating the models, assumptions and input data currently being used to create the NIF series. The NIF data was being estimated in the absence of any recognised statistical or conceptual framework. This created difficulties in defining what the scope of certain series should be. Without a clear scope estimating reliable data is quite difficult. Many of the NIF series were still referring to concepts relevant when the model was originally developed in the 1970's. For example, many of the NIF series are still on the System of National Accounts 1968 (SNA68) basis rather than the System of National Accounts 1993 (SNA93) basis currently used. As a result of this review, the publication of a number of series has been ceased.

Valentin M. ValdezDatabase AdministratorAnalysis Branch

Table numbers refer to 5206 pdf unless stated otherwise.

Table 01: NIF Private Final Consumption - Seasonally Adjusted

NIF Series

Description

Source

VNEQ.UC_CRE$

Rent and other dwelling services

Table 58

VNEQ.AC_CON$

Total HOUSEHOLD FINAL CONSUMPTION EXPENDITURE,

Table 9

VNEQ.UK90_CRE

Rent and other dwelling services (Chain Volume Measure)

Table 21

VNEQ.AK90_CON

Total HOUSEHOLD FINAL CONSUMPTION EXPENDITURE, (Chain Volume Measure)

Table 21

Table 02: NIF Demand And Expenditure - Seasonally Adjusted

NIF Series

Description

Source

VNEQ.AC_DGC$

Final consumption expenditure General governmentTotal national

Table 9

VNEQ.AC_DGS$

Final consumption expenditure General governmentState and Local

Table 9

VNEQ.AC_DIS$

Statistical Discrepancy (E)

Table 9

VNEQ.AC_SDI$

Statistical Discrepancy (I)

Table 19

VNEQ.AC_DPC$

Public Gross Fixed Capital Formation - General Government Total national + Gross Fixed Capital Formation - Public corporations Commonwealth

Table 9

VNEQ.AC_DPS$

Public Gross Fixed Capital Formation - General Government - State and local + Public Gross Fixed Capital Formation - Public corporations - State and local

Table 9

VNEQ.AK90_DGC

Final consumption expenditure - General government - Total national (Chain Volume Measure)

Table 6

VNEQ.AK90_DGS

Final consumption expenditure - General government - State and Local (Chain Volume Measure)